Netflix may be set to make a lot of money over the coming years with its #NetflixEverywhere. An expansion drive that availed the Internet TV streaming service to an additional 130 countries across the globe. But the company wants to share some of that money.
Netflix CEO Reed Hastings is launching the Hastings Fund; a $100 million pool of money to be contributed towards financing kids’ education.
The first donations to the Hastings Fund were $1.5 million donated to the United Negro College Fund and the Hispanic Foundation of Silicon Valley. There are also talks currently ongoing to consider more education programs.
Hastings has a demonstrated background in philanthropy, so this move comes as a little surprise to those who know him. Previously, he served for four years as the President of California’s State Board of Education. In the 1980s, he worked with the Peace Corps. Come 2012, he and his wife Patty Quillin committed themselves to the Giving Pledge [pdf]; where they promised a chunk of their assets towards philanthropic initiatives.
In a way, Hastings is doing what he has all along been doing. Except this time, he has a lot more cash to go around.